Bitcoin has made a number of positive changes to the online gaming industry. It is a form of digital currency that isn’t controlled by a central authority.
Bitcoin can be stored offline and securely and it can be easily converted to other currencies. It can also be used for making global payments. Some gamers have been making money with Bitcoin too.
It is an innovative payment method that allows users to complete financial transactions without revealing their identity or sensitive data.
According to TechCo:
“Investment in digital currencies, especially Bitcoin, constitutes a new niche that is driving major innovations in the financial sector.”
Benefits offered by using Bitcoin:
- Security- By using a trusted Bitcoin exchange market that has completed PCI compliance certification, you can be assured that it matches security requirements for online financial services.
- Anonymity- proceed with all the necessary financial transactions you wish to complete, without revealing your identity or giving out sensitive data about yourself
- There are no hidden fees for using Bitcoin
- There is no approval waiting period
How gamers are making money with Bitcoin:
As a gamer, you can play internationally without worrying about security or exchange rates.
Steam is now accepting Bitcoin as currency for any purchases on its store. This is now happening through BitPay, a company that specialises in taking Bitcoin payments. Gamer are able to sell their games through Steam and collect payments in Bitcoin.
BitPay converts the cryptocurrency to applicable real-world money before passing it on.
It’s a secure asset because there is a cap on the maximum number of coins which can never be created. The value of Bitcoins is expected to rise against commodities and other currencies.
The price of Bitcoin varies based on supply and demand and once production is capped once the target of 21 million is reached, there will be a limited supply, driving prices up.